John W. McPartland

Senior Policy Advisor, Financial Markets

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John McPartland is a senior policy advisor in the economic research department. He advises senior management of the Federal Reserve Bank of Chicago on matters involving international netting systems, settlement systems for fixed income and equity securities in G-5 countries, exchange-traded derivatives, privately negotiated derivatives, risk mitigation techniques, especially bilateral collateralization of foreign exchange and derivatives instruments, margining systems of derivatives exchanges in G-10 countries, idiosyncrasies affecting U.S. securities markets, payment initiatives and issues relevant to collateralizing or clearing over the counter (OTC) derivatives instruments or issues raised by high frequency trading. McPartland also contributes to the Federal Reserve’s position on public policy issues involving netting systems, supervisory oversight of exchange-traded and OTC derivatives, international competitiveness and appropriate regulatory structure of domestic financial markets. He serves as a technical expertise resource that can be seconded to other national authorities.

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Chicago Fed Letter
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Policy Discussion Papers
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2009,  “Clearing and Settlement of Exchange Traded Derivatives: The Hitchhiker’s Guide,” Futures & Derivatives Law Report, October (greatly expanded version of Chicago Fed Letter, No. 267).


2006, “Foreign Exchange Trading and Settlement: Past and Present,” Federal Reserve Bank of Chicago, Chicago Fed Letter, No.223, republished in Futures & Derivatives Law Report, March.


2005, “Clearing and Settlement Demystified,” Federal Reserve Bank of Chicago, Chicago Fed Letter, No.210, republished in Futures & Derivatives Law Report, June.

With Richard Tsuhara, 2003, “Clearing Structure of the Derivatives Markets: We’re Not in Kansas Anymore,” Futures & Derivatives Law Report, October.

2002, “Market Access, Revenue Models and Public Policy,” Journal of Global Financial Markets, Fall.

2002, “Open Architecture Clearing,” Outlook ’03, Fall.


With Donna Zagorski, 1999, “Multicurrency Regulatory Encumbrances Affecting the U.S. Futures Industry,” Derivatives Quarterly.

1998, “A Private Sector Derivatives Settlement Initiative that Circumnavigates the Encumbrances of Regulation Q,” Derivatives Quarterly.

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